Telok Blangah Beacon HDB BTO flats are the most expensive units in the Housing Board's sales exercise this month. Located in the mature estate of Bukit Merah, a whopping total of 3,124 applicants competed for the 70 units of 4-room flats put on offer by HDB in the Telok Blangah Beacon project as at 5pm on Monday, 31 May 2021. The last time a BTO project drew such strong competition was in August last year, when 334 four-room flats in Geylang drew almost 15 applicants for each unit.
For first-timer applicants, only one in more than 28 applicants will get a unit. Second-time applicants face even bleaker prospects, with more than 412 applicants vying for each available unit.
Kiwi Lim from Huttons Asia said the overwhelming response for Telok Blangah Beacon is expected due to its proximity to the future Greater Southern Waterfront similar to another HDB project in the CBD in Tanjong Pagar called The Pinnacle at Duxton launched in 2004.
"Prices for these Telok Blangah four-room flats, which are located within walking distance of Telok Blangah MRT station, range from $602,000 to $710,000 is considered attractive as it is very similar to how another HDB BTO project: The Pinnacle at Duxton was priced during its launch as the most expensive BTO project in 2004" said Kiwi. "Back then in 2004, the property market was very weak and Pinnacle at Duxton was priced above double the price of typical HDB BTO projects in Fernvale. However, today in 2021, global cities around the word are seeing a boom in their real estate market, including Singapore. If we consider the added advantage that such BTO projects at the doorstep of The Greater Southern Waterfront is expected to enjoy amazing upside potential from the government's massive future developments there, you will understand why so many are keen to lay their hands on it."
"I recall Pinnacle at Duxton buyers were ridiculed and laughed at by friends in 2004 for buying The Pinnacle at Duxton HDB BTO. This truly is a repeat"
The Pinnacle@Duxton consists of seven 50-storey blocks comprising 1,848 flats. Among its unique features are 12 steel sky bridges that link all seven blocks on the 26th and 50th storeys, forming a continuous sky garden, as well as an 800-metre jogging track on the 26th floor.
The Pinnacle at Duxton showcased innovative design approach to high-density, high-rise public housing that would optimise land use while meeting the changing lifestyle needs and rising aspirations of residents.
The award-winning design; sky gardens; central locale; and convenient access to the Tanjong Pagar and Outram MRT stations, restaurants and supermarkets; as well as flexible layouts were factors that contributed to the Pinnacle’s immense appeal for prospective homeowners, in particular, young families and young urban professionals.
By the close of the launch in July 2004, close to 5,000 applications – more than double the number of flats available – were received by the HDB, enabling it to call for contractor bids for the construction of the Pinnacle under the built-to-order scheme.
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